Abraaj acquires majority stake in Tunisian hospital

Tunis, July 14, 2014

The Abraaj Group, a leading investor operating in global growth markets, has acquired a majority stake in Polyclinique Taoufik, a leading private hospital in Tunisia, through its funds.

Based in Tunis, Clinique Taoufik was one of the first private healthcare institutions established as part of efforts to modernise Tunisia’s healthcare system, said a statement.

The hospital currently treats 75,000 in- and out-patients per year, offering services such as general surgery, heart surgery, neurosurgery and obstetrics. It also has an emergency service, a radiology centre and laboratory, it said.

It is the second largest hospital in terms of bed capacity, with 164 beds.

With Abraaj’s financial and operational support, it aims to consolidate this position by further increasing patient capacity and adding new services, upgrading and renovating the hospital, and investing in human resources and training.

Ahmed Badreldin, partner and head of Mena at The Abraaj Group, said: “Our investment in Clinique Taoufik marks our sixth investment in Tunisia and enables us to execute our wider strategy of acquiring robust and innovative businesses in critical sectors such as healthcare.

“We are backing a company with strong growth potential as the North African population is expected to reach 190 million by 2020, with life expectancy also on the rise, contributing to increasing demand for quality healthcare services.”

Leila Kefi, chief executive officer of Clinique Taoufik, said: “We are excited to partner with the Abraaj team, who will help to accelerate Clinique Taoufik’s growth, and further build on our leading position in the healthcare delivery sector. We are confident that Abraaj’s strong experience in the healthcare industry and wider region make them the ideal investor for us.” - TradeArabia News Service